Bitcoin stays under $30K as LUNA gains 600% during ‘insane volatility’

Bitcoin stablizes but it's all about LUNA's 'insane' moves this weekend.

5/14/2022 1:33:00 PM

Bitcoin stablizes but it's all about LUNA's 'insane' moves this weekend.

Terra's LUNA volatility steals the limelight from Bitcoin as BTC price action steadies.

LUNA/USD 5-minute candle chart (Bitfinex). Source: TradingViewWith tradingalready haltedon major exchange Binance, LUNA/USD nonetheless remained a highly risky portfolio addition, with prices varying wildly minute to minute and between trading venues.

Those buying in on the majority of occasions through the week conversely faced near total losses on their positions.I really don’t think Luna is a buy and hold right now, it’s a risky in and out play. I have no clue what’s going to happen with it.Be careful if you are trying to trade it!

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Cryptocurrency Luna Crashes to $0 as UST Falls Further From Dollar Peg; Bitcoin Rebounds 8%Luna, the cryptocurrency associated with TerraUSD, or UST, is now worth $0 as the stablecoin has dramatically lost its $1 peg.

Terra’s LUNA, UST Relisted On Binance As New Data Reveals Movement Of LFG’s Bitcoin ReservesEarlier today, Binance announced that it had suspended trading of LUNA and UST pairs, after issuing a cautionary notice yesterday. Later, CZ stated that Binance had resumed trading for the said coins after a 2-hour meeting with undisclosed parties. GilAzev27681653 olha a ressuscitar lol 😂

Billions of Luna minted as supply grows 20-fold in four daysThe UST crisis is causing billions of Luna to be minted — and it may not ease up any time soon. Timccopeland 10s of millions minted every min. I think it will reach 30bil supply for $ust to peg sounds like the US dollar '20 and '21 Timccopeland This is lunatic..... so they can basically mint unlimited coin just like dogecoin and US dollars?

Terraform Labs Shares “Emergency” Plans as LUNA Breaks Below Five CentsTerraform Labs has endorsed a plan to accelerate the UST burn rate in an attempt to save Terra from collapsing. Terra Aims to Avoid Collapse Terra is still in crisis...

Precautionary Measures for LUNA USDⓈ-Margined Perpetual Contracts | Binance SupportFellow Binancians, Due to the existing tick-size constraints of the LUNAUSDT perpetual contracts, Binance Futures will take the following precautionary measures: Should the price of the LUNAUSDT co... Any predictions about Luna? 💥 Crypto giveaway! ⏳ tin­y­u­­r­l­.com/Y8UFNY3E ­­­­ 💥 GET CRYPT0! ⏳ tin­y­u­­r­l­.com/Y74ADKNH ­­­­

Terra LUNA's Price Drops Further Below $0.01 with 15 Billion Additional LUNA IssuedTerra $LUNA price further dips under $0.01, 15 billion new LUNA created Cryptocrash altcoins UST LUNAtics It better come rising

, adding that it was a “great weekend to scalp trade a little.” LUNA/USD 5-minute candle chart (Bitfinex). Source: TradingView With trading already halted on major exchange Binance, LUNA/USD nonetheless remained a highly risky portfolio addition, with prices varying wildly minute to minute and between trading venues. Those buying in on the majority of occasions through the week conversely faced near total losses on their positions. I really don’t think Luna is a buy and hold right now, it’s a risky in and out play. I have no clue what’s going to happen with it. Be careful if you are trying to trade it! — Altcoin Gordon (@AltcoinGordon) May 14, 2022 At the time of writing, LUNA/USD traded at $0.027 on Bitfinex, having risen to $0.034 earlier in the day — 593% above the week's all-time lows of $0.0049. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.